Allied Corp. announced the execution of the agreement that was mentioned in the press release on April 27, 2022, regarding the signing of a forward purchase agreement with a distributor for a specialty medical care hospital based in Sao Paulo, Brazil.
Under this agreement, the Brazilian Group has purchased US$147,000 worth of Allied products that will continue on a monthly basis. The products from this monthly agreement will focus on specialty medical care for tens of thousands of Brazilian oncology patients. The hospital that the products are intended for was founded in 1971 with the mission of providing quality health care, generating knowledge, and promoting social responsibility. The hospital’s research and educational institute has already trained approximately 130,000 professionals and conducts hundreds of studies annually. Allied’s products will specifically be offered to the hospital’s complex oncology (cancer) and neurology patients undergoing therapies. This hospital was named in Forbes’ list of the 20 best hospitals in the world, along with other world-known hospitals such as Mayo Clinic in Rochester (Minnesota) and John Hopkins Hospital in Baltimore (Maryland).
Getting to the point of actually shipping the product has taken six months of product review, manufacturing specifications and testing, regulatory clearance, and logistics management. With the completion of the lengthy review of the company and manufacturing certificates, Allied has successfully shipped.
“With over 200 million people, Brazil is an obvious market for us at Allied. The quality, flavor profiles, and supply chain integrity were all factored into the Brazilian partner and Allied coming together under this agreement. The stringent review process that Allied was put through to meet the standard for a customer of this caliber again shows our manufacturing competence and knowledge of international regulatory compliance. The revenue that this brings Allied on a monthly basis will only fuel our forward growth and continue to provide for accretive shareholder value,” said Mr. Calum Hughes, CEO, and Chairman of Allied Corp.
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